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OFFICIAL STATEMENT DATED MAY 29, 1996
<br /> Rating: Requested from Moody's
<br /> • NEW ISSUE Investors Service
<br /> Interest on the Bonds is includable in the gross income of the recipient for federal and Minnesota income tax
<br /> purposes. Interest is also.includable in taxable income of corporations and financial institutions for purposes of the
<br /> Minnesota franchise tax.
<br /> $1,7702000*
<br /> City of St. Anthony, Minnesota
<br /> General Obligation Taxable Tax Increment Bonds, Series 1996A
<br /> (Book Entry Only)
<br /> Dated Date: July 1, 1996 Interest Due: Each February 1 and August 1,
<br /> commencing February 1, 1997
<br /> The Bonds will mature February 1 as follows:
<br /> 2000 $80,000 2004 $100,000 2008 $135,000 2011 $165,000
<br /> 2001 $85,000 2005 $110,000 2009 $145,000 2012 $180,000
<br /> 2002 $90,000 2006 $115,000 2010 $155,000 2013 $190,000
<br /> 2003 $95,000 2007 $125,000
<br /> The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal
<br /> amount of the Bonds offered for sale. Any such increase or reduction will be in a total amount not to exceed
<br /> $70,000 and will be made in multiples of$5,000 in any of the maturities. In the event the principal amount of the
<br /> Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be
<br /> increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is
<br /> increased or reduced.
<br /> ® The City may elect on February 1, 2006, and on any day thereafter, to prepay Bonds due on or
<br /> after February 1, 2007 at a price of par plus accrued interest.
<br /> The Bonds will be general obligations of the City for which the City will pledge its full faith and
<br /> credit and power to levy direct general ad valorem taxes. In addition, the City will pledge tax
<br /> increment income received from the City's Tax Increment Financing District No. 3 (Apache
<br /> Plaza Project) and Chandler Place and Kenzie Terrace Housing and Redevelopment Tax
<br /> Increment Districts. The proceeds will be used to finance a portion of the costs of acquisition of
<br /> land , by Supervalu Inc., in the tax increment project area.
<br /> Proposals shall be for not less than $1,743,450 and must be accompanied by a good faith
<br /> deposit in the form of a certified or cashier's check or a Financial Surety Bond in the amount of
<br /> $17,700, payable to the order of the City. Rates shall be specified in integral multiples of 5/100
<br /> or 1/8 of 1% and must be in ascending order. The Bonds will be awarded on the basis of True
<br /> Interest Cost (TIC).
<br /> The Bonds will be issued as fully registered bonds without coupons and, when issued, will be
<br /> registered in the name of Cede & Co., as nominee of The Depository Trust Company ("DTC").
<br /> DTC will act as securities depository of the Bonds. Individual purchases may be made in book
<br /> entry form only, in the principal amount of$5,000 and integral multiples thereof. Purchasers will
<br /> not receive certificates representing their interest in the Bonds purchased. (See "Book Entry
<br /> System" herein.) The City will name the Registrar and pay for registration services.
<br /> Certificates will be available for delivery at DTC within 40 days after award.
<br /> PROPOSALS RECEIVED: June 10, 1996 (Monday) until 11:00 A.M., Central Time
<br /> • AWARD: June 10, 1996 (Monday) at 7:00 P.M., Central Time
<br /> Further information may be obtained from
<br /> SPRINGSTED SPRINGSTED Incorporated, Financial Advisor to
<br /> the Issuer, 85 East Seventh Place, Suite 100,
<br /> PUBLIC FINANCE ADVISORS Saint Paul,Minnesota 55101 (612)223-3000
<br />
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